LME Zinc to Stay Firm (2017-5-24)

Published: May 24, 2017 09:43

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LME zinc will trade at USD 2,640-2,680/mt and SHFE 1707 zinc will stay firm at RMB 22,300-22,700/mt on Wednesday.

SHANGHAI, May 24 (SMM) – LME zinc will maintain upward momentum on Wednesday with support at the moving averages but meeting resistance at the 10-week moving average. The contract will trade at USD 2,640-2,680/mt. SHFE 1707 zinc advanced for 4 days in a row and will stay firm at RMB 22,300-22,700/mt on Wednesday.

In China’s domestic market, spot prices will be RMB 340-410/mt higher than SHFE 1706 zinc.

SHFE zinc LME zinc zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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